Australian Market Report of June 16: Lower US Stocks and Commodities Prices

  Sydney, Australia, June 16, 2009 - (ABN Newswire) - Wall Street stocks tumbled overnight after data in the manufacturing and housing sectors showed that factory activity in the New York area continued to decline in June - falling at a modestly faster pace than it had in May. Meanwhile, a survey of home builders' confidence also dropped in June. The Australian shares closed lower as weaker commodities prices weighed on the resources sector.  

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